Solar Panel Cost Guide in Franklin, NH (2023 Update)
- Franklin Solar Installation Cost: $10,144
- 25-Year Savings: $15,201
- Payback Period: 10.0 Years
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Updated September 15, 2023
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Average Cost of Solar Panels in Franklin
Find out what the average cost of solar panel installation is in Franklin.
Although the national average of solar panels is $2.66 per watt, solar panels in Franklin generally cost around 2.91. Because a 5.0-kW system is needed to cover the energy needs of a typical home in Franklin, the average price of going solar will be about $10,144 after claiming the federal solar tax credit of 30%.
How much you pay can be higher or lower than the average in Franklin based on a variety of factors, such as the brand of solar panels you choose and the solar installer you hire. Despite the high upfront cost, the average Franklin homeowner can save around $19,000 on their power bills over 20 years, which is one of the advantages of solar.
To get a free estimate from a top solar installation company in Franklin, you can click the button below.
Solar savings over time in Franklin
| Year | Return on Investment |
|---|---|
| 1 years | $-10,059 |
| 3 years | $-9,890 |
| 5 years | $-9,721 |
| 7 years | $-9,552 |
| 9 years | $-9,383 |
| 11 years | $-9,214 |
| 13 years | $-9,045 |
| 15 years | $-8,876 |
| 17 years | $-8,707 |
| 19 years | $-8,538 |
| 21 years | $-8,369 |
| 23 years | $-8,201 |
| 25 years | $-8,032 |
Top Solar Installers in Franklin
When switching to solar energy, many homeowners choose to use a solar installation company since overseeing your solar installation yourself can be a challenging project. The payback period on an investment in solar panels will vary depending on factors like your roof configuration and energy consumption, but working with a solar installer can shorten it. Your provider will be able to help you get the most out of incentives available in your area.
You can work with a local solar installer to get a free estimate on the cost of solar panels for your home. Here are some near you:
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
See all of the solar companies in Franklin
Factors that Affect Solar Panel Costs in Franklin
For many Franklin homeowners, the decision to install solar panels rests on cost. However, the range of solar installation costs can be quite wide in Franklin, with typical prices between $20,000 to $40,000. There are a number of factors that significantly influence the price you'll pay, which we'll go over below.
Solar Equipment
When it comes to estimating the cost of a solar energy system in Franklin, one of the most crucial factors is the size of the system you need. Solar systems are sized by kilowatts (kW) and are mainly based on your home's energy usage, which you can figure out by looking at past power bills. Your overall cost can increase by about $2,910 for each additional kilowatt you need. The type of solar equipment you choose can increase or decrease your cost by thousands or even tens of thousands of dollars. If you choose the most efficient solar panel brands, you'll end up paying more upfront than if you opted for the most affordable panels. However, more efficient panels could save you more over time on your power bills. Additionally, add-on products, like solar batteries, can bump up your total well above the Franklin average.
Solar Financing Terms
Most solar companies in Franklin have solar loans, which reduce your upfront costs of installing solar panels. When trying to figure out your overall cost, you should also calculate the interest you'll pay if you choose to go with a solar loan. Also, paying more upfront can reduce the total interest paid over time.
Solar Panel Installation Company
The solar installer you choose to handle your switch to solar energy can have an effect on your total costs. There are about 3 solar installation companies in Franklin, and each can charge different amounts for labor and equipment. Additionally, some companies in Franklin are more knowledgeable about local solar incentives and can help you make good use of additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.03 | $12,711 | $17,826 | 10.4 years |
| 8 kW | $2.97 | $16,622 | $24,094 | 10.2 years |
| 10 kW | $2.91 | $20,370 | $30,525 | 10.0 years |
| 12 kW | $2.85 | $23,955 | $37,119 | 9.8 years |
| 14 kW | $2.79 | $27,377 | $43,876 | 9.6 years |
| 16 kW | $2.74 | $30,636 | $50,796 | 9.4 years |
| 18 kW | $2.68 | $33,733 | $57,878 | 9.2 years |
| 20 kW | $2.62 | $36,666 | $65,124 | 9.0 years |
How to Save on Solar Panels
The company that does your solar system installation will affect the warranties and brands available to you, and it will also have an impact on your total cost. Because choosing a company can be a challenge, we have some tips to help you, such as:
- Reputation: Your solar installer should have a sound reputation as a company and have proven expertise in the field. A couple of ways to check this are to look for whether a company has technicians that hold a certification from the North American Board of Certified Energy Practitioners (NABCEP) and if it has positive reviews from previous customers.
- Warranty: Each company may offer different kinds of warranties that cover different things. A 25-year, all-inclusive warranty is the gold standard.
- Solar Panel Brands: Homeowners will have different preferences for panels based on their locations and energy needs. While there are many options for which kind of solar panel you can get, not every company will have the exact one you may want or need, so make sure you ask for their list of offerings before making your decision.
- Contract: Before signing a contract with a solar installer, be sure to read it through fully so you understand the terms. Also, ask questions if you're not sure about some of the terms, such as what the warranty covers and if there are any guarantees about energy production.
Best Technology
Tesla Energy
- Price-match guarantee
- Sleek, efficient, and durable solar panels
- Best solar battery on the market
- Some reported issues with customer service
- Customer service varies by local dealer
EcoWatch's Franklin, NH Solar Cost FAQs
What is the average cost of installing solar panels in Franklin?
This is a hard question to answer precisely, because the cost depends on a few different factors. Broadly speaking, it costs about $14,550 for a 5-kW system and $29,100 for a 10-kW system after the ITC is applied. It will cost more if you want other solar equipment or higher quality panels, or if you have above-average energy usage. On the other hand, you can spend less if you opt for a smaller solar panel system or less expensive solar panels.
Is it better to lease or buy solar panels in Franklin?
Leasing solar panels can be an attractive choice, because it typically comes with low or $0 upfront payments. The downside is that you won't be able to save as much. If you lease, you don't own the system, so you can't claim any incentives and your home value won't increase. Buying solar panels is a better option if you want to maximize your savings.
Is going solar worth it?
Whether or not solar panels are worth it depends on some different factors like the cost of electricity near you and the amount of direct sunlight your roof gets.
How long do solar panels last in Franklin?
Even though the average lifespan of solar panels is 25 to 30 years, that doesn't mean they are completely unusable at that time. What this means is the amount of energy they produce will have decreased significantly after that point. You can replace them once you've had them for that long or you can continue to use them at a lower efficiency.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.